On February 25, 2026, GSK reached an agreement to acquire the Canadian biotech firm 35Pharma for $950 million. The centerpiece of this acquisition is HS235, an investigational drug regarded as a potential “best-in-class” activin signaling inhibitor designed to treat pulmonary arterial hypertension and other severe cardiac conditions.
HS235 functions by reversing the abnormal cell proliferation that causes blood vessel wall thickening. GSK aims to differentiate this therapy through its superior profile, which includes a lower risk of bleeding, metabolic benefits such as weight loss with muscle mass preservation, and enhanced insulin sensitivity. This move positions GSK as a direct competitor to Merck’s blockbuster drug, Winrevair, in a rapidly expanding therapeutic category.
The acquisition reflects a bold strategic shift under GSK’s new CEO, Luke Miels, who is focused on aggressive portfolio expansion. With the pulmonary hypertension market projected to reach $18 billion by 2032, GSK is leveraging “smart” business development to drive long-term shareholder value. The addition of HS235 follows a string of recent regulatory and clinical successes for the British drugmaker, signaling a new era of growth and innovation in its cardiovascular pipeline.